DBS Group Holdings, rated Aa2/AA- (Moody's/Fitch), is marketing five-year US dollar Green bonds at Treasuries plus low 80 basis points area, the first offshore Green bond offering by a Singaporean issuer. The Singaporean bank is also marketing a five-year floater at the equivalent spread over three-month US dollar Libor.
The 144A/Reg S notes are expected to be rated on par with the issuer. DBS Group will allocate the net proceeds towards the financing of green projects or assets, with the first green assets expected to include DBS Group's financing of Singapore's Marina Bay Financial Centre Tower 3.